The news came as a shock to senior management at the station, which only hit the airwaves in March 2006, and effectively throws the future of some 40 staff ‘up in the air’.

Speaking to How-Do, station MD Ande McPherson said: “There was a senior management meeting on Sunday and that’s when I found out. It all came as a great surprise.

“There’s not that much I can give you beyond the official company statement, as this has only just come out into the open today and we’re trying to deal with it as we speak.”

GCap now hopes to sell off the station licences, alongside those of sister outfits Xfm Scotland and Xfm Wales (which only launched in November), or, failing this, simply hand them back to Ofcom at the end of March.

Speaking about these options, an insider at the station claimed: “I’m actually pretty optimistic.

“The station has been performing well and is ahead of its targets. There’s already interest in it as a result.

“I know the station will live on in some form,” they added, “just not as Xfm Manchester.”

The move, which is part of a £9m cost-cutting initiative (projected to increase profits by £12.3m), also sees the group closing cult digital stations Planet Rock and theJazz.

Speaking about the plans an industry observer noted: “This is a great shame and a regional snub.

“They’re retreating to London with a strong brand that had huge potential in Manchester and beyond.

“It’ll now be interesting to see who steps in.”

GCap is currently fighting a takeover bid by the Charles Allen led consortium Global Radio.

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Comments (8)

4  By Simon Wharton , on 13-02-2008 12:52 I always found XFM a bit lite. How many times can you listen to them classic Stone Roses tracks. 96.2 the Revolution does the job a whole lot better and yes there are listeners. you can get he live stream as well  http://www.revolutiononline.co.uk/ Report